HCW Biologics (NASDAQ:HCWB) Announces Quarterly Earnings Results

HCW Biologics (NASDAQ:HCWB) released its quarterly earnings data on Friday. The company reported ($11.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.98) by ($9.60), FiscalAI reports. The business had revenue of $0.14 million during the quarter, compared to analyst estimates of $5.73 million. HCW Biologics had a negative net margin of 34.73% and a negative return on equity of 486.87%.

HCW Biologics Price Performance

HCWB stock traded down $0.24 during midday trading on Friday, reaching $2.68. The company had a trading volume of 130,111 shares, compared to its average volume of 72,278. The company has a market capitalization of $4.29 million, a price-to-earnings ratio of -0.05 and a beta of 2.32. The stock has a 50 day moving average price of $4.71 and a 200-day moving average price of $4.89. HCW Biologics has a 1-year low of $1.50 and a 1-year high of $44.10.

Wall Street Analysts Forecast Growth

HCWB has been the subject of several research reports. Maxim Group lifted their price target on HCW Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wall Street Zen raised HCW Biologics to a “hold” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of HCW Biologics in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Insider Buying and Selling at HCW Biologics

In other HCW Biologics news, Director Scott T. Garrett acquired 29,656 shares of HCW Biologics stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $8.46 per share, with a total value of $250,889.76. Following the completion of the purchase, the director directly owned 33,906 shares of the company’s stock, valued at $286,844.76. This represents a 697.79% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders acquired 47,500 shares of company stock worth $310,875. 9.10% of the stock is owned by corporate insiders.

Institutional Trading of HCW Biologics

An institutional investor recently bought a new stake in HCW Biologics stock. Armistice Capital LLC purchased a new position in shares of HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned 9.15% of HCW Biologics as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 2.96% of the company’s stock.

About HCW Biologics

HCW Biologics Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel immunotherapies for chronic, low-grade inflammation, and age-related diseases in the United States. The company's lead products include HCW9218, which is in Phase 1 clinical chemo-refractory/chemo-resistant solid tumors with pancreatic, ovarian, breast, prostate, and colorectal cancers, as well as Phase 2 clinical trial with metastatic advanced stage ovarian cancer patients; and HCW9302 for autoimmune and proinflammatory diseases, such as alopecia areata diseases.